It happened just before 3 a.m. at a home in the 400 block of E. Lane Street.
When Raleigh Police Department officers arrived at the scene, they found 34-year-old Jessie Skye McClellan and 26-year-old Peter Noah Tate suffering from stab wounds. The pair was taken to WakeMed in unknown condition.
Authorities arrested 31-year-old James Alexander Walters at the scene in connection with the incident. The suspect was also hurt and taken to WakeMed. Charges are currently pending.
Police say all three were residing together and that the incident was not random.
Walters will be transported to the Wake County Detention Center when his medical condition permits.